Carmignac Portfolio Commodities SICAV ISIN LU0164455502 Equity management
Recommended minimum investment horizon : 5 years
Global equity fund invested in energy, natural resources, and related industrial companies. By combining a fundamental top-down approach and a disciplined bottom-up analysis, the Fund manager aims to select quality companies with attractive long-term growth prospects and sustainable cash flow generation, across the entire commodity value chain. The Fund aims to outperform its reference indicator over 5 years..
Carmignac Global Strategy October 2017
- Oil prices rallied
- Emerging equity markets outperformed
- US yields came under pressure while core European yields eased
Exposure datamonthly weekly
The Fund turned in a positive performance and beat its reference indicator. The prices of oil and most commodities rose, the former largely due to the decrease in global reserves and the strength of demand. In this context, our shale oil producers and explorers (Canadian Natural Resources, EOG Resources, SM Energy) made excellent progress. Our mining companies such as ArcelorMittal (steel), Grupo Mexico (copper) and Lundin Mining (copper) also performed well. Our investments in commodity-related industries were again rewarded with silicon wafer producers Siltronic and GlobalWafers, and pumps and compressors manufacturer Gardber Denver, making the biggest contributions to performance.
Week from 3 to 10 Nov 2017
The information presented above is not contractually binding and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Management fees are included in performances. Investors may lose some or all of their capital, as the capital in the UCI is not guaranteed. Access to the products and services presented herein may be restricted for some individuals or countries. Taxation depends on the situation of the individual. The risks, fees and recommended investment period for the UCI presented are detailed in the KIIDs (key investor information documents) and prospectuses available on this website. The KIID must be made available to the subscriber prior to purchase.